Opened new dispensary in a Richmond, Virginia suburb in November, the third location in the state Launched Classix brand in five new markets on October 13 in the industry’s widest multi-state flower brand launch in a single dayĪnnounced partnership with Mike Tyson’s Tyson 2.0 cannabis line, as exclusive cultivation, manufacturing and distribution partner within Columbia Care marketsīuilding scale with continued retail expansion:Įntered the Missouri medical market in OctoberĬlosed acquisition of Medicine Man in Colorado in November, strengthening leadership position in the world’s second largest cannabis market Transformed entire Florida footprint of 14 stores to Cannabist retail experience on December 8 Sustained momentum on branding initiatives at retail and product levels: Operational Highlights for Fourth Quarter 2021 GAAP Financial Highlights (in $ thousands, excl. There is no better team in the industry to maximize the potential of this market defining combination.”įull Year 2021 U.S. With Columbia Care’s strategic national footprint in the most attractive markets and Cresco’s success in execution and incredibly popular brands, we will together create the most important and investable company in cannabis. “In an evolving industry, the opportunities to better achieve our mission through consolidation led us to this historic moment. “Since our founding, Columbia Care’s mission has been to provide quality, expertise and trust in cannabis and to deliver the best outcome for our stakeholders,” said CEO Nicholas Vita. Management Commentary on Transaction with Cresco Labs I am confident that our team will continue to demonstrate our successful strategies as we execute in 2022 and beyond.” We’ve made tremendous operational improvements that are driving efficiencies in new and maturing markets. We will continue to roll out our award-winning Cannabist retail experience as we open new locations and will bring our house of brands to our strategic national footprint throughout 2022, providing consistent quality that patients and consumers demand. Vita continued, “As we look ahead to the remainder of 2022, there are remarkable catalysts on the horizon, including adult use sales in New Jersey and growth in the medical programs in New York and Virginia. Innovative technologies like Forage allow us to engage with and understand our patients and consumers better than ever before.” We have also evolved as a company through our launch of the Cannabist retail experience and our own suite of product brands. As we build scale and operationalize new markets, Adjusted EBITDA (non-GAAP measure) has improved 220% over fourth quarter 2020. “In 2021, organic growth across our diversified portfolio and the integration of several major acquisitions drove full year revenue increase of 156% over the prior year. “We are pleased to report record results for the full year and fourth quarter of 2021, in what was a truly transformational year for Columbia Care,” said Nicholas Vita, CEO of Columbia Care. dollars, unless otherwise noted, and comparisons to prior quarter and prior year are made on an as-converted basis under U.S. All financial information presented in this release is in U.S. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) today reported financial and operating results for the fourth quarter ended December 31, 2021. NEW YORK-( BUSINESS WIRE)-Columbia Care Inc.
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